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LIFO vs. FIFO: Choosing the Right Inventory Valuation Method

It’s critical that manufacturers, wholesalers and retailers know how to manage inventory, as well as understand the LIFO vs. FIFO inventory valuation methods. If you’re a manufacturer, your inventory is raw materials, work-in-progress and finished goods, and if you’re a wholesaler or retailer, your inventory is only finished goods.  Your inventory...